The Market Ear on the runaway Trumpflation. And the winner is When you need proper leverage, you go for the mania 2x. MSTU, 2x MSTR, up some 50% today. Source: Refinitiv The one and only The dollar continues surfing with the DXY printing the highest levels since late June/early July. We outlined our long dollar
It is best to stop digging when you are in a financial hole. The Victorian government is drowning in debt with the lowest credit rating in the nation. The world’s two largest credit rating agencies, S&P Global and Moody’s, recently warned that Victoria faced further downgrades unless it controls its debt. One year ago, newly
Labor’s first federal budget in October 2022 projected 470,000 net overseas migration (NOM) in the first two years (FY 23 and 24). Instead, Labor allowed in around one million NOM over two years, more than double its forecast. On Tuesday, the Australian Bureau of Statistics (ABS) released monthly net long-term arrivals data, indicating that immigration
It wasn’t really a good time and sure wasn’t a long time, as Chinese property appears to be slowing once more. Goldman has more. Our refined easing impact tracker indicates that over the 6th week since this easing cycle, we find: 1)aggregated primary/secondary volumes recorded-29%/+1% wow and were 42%/65% higher than pre-easing level (vs. average
The Reserve Bank of Australia (RBA) ‘s interest rate decision last week was undeniably “hawkish”. The RBA explicitly stated that “underlying inflation is too high” at 3.5% and admitted that it underappreciated the strength of public spending, which has inflated aggregate demand and kept unemployment low. The NAB business survey was released on Tuesday and
As expected, the DXY MAGA boom is a global wrecking ball. AUD is on the verge of a new medium-term downtrend. CNY is being let go. JPY won’t have it. Very AUD bearish. Gold and oil haven’t had a proper flush yet. It’s coming if trends continue. Dirt is threatening to get there first. Miners
The 2023 Intergenerational Report presented the following chart showing the structural decline in property ownership among younger Australians. In 1981, over 55% of Australians aged 25 to 29 owned a home. Four decades later, there has been a dramatic reduction to slightly more than 35%. The gap narrows as you progress up the age groups.
‘Defunct Otways tractor #4’ AUD/USD EUR/USD USD/JPY GBP/USD Gold WTI Brent Australia 200 US S&P 500 UK 100 Japan 225
The post Macro Afternoon: 12 November 2024 appeared first on MacroBusiness.
New Resolve Political Monitor polling shows voters have swung away from the federal Greens. The Greens’ net likeability rating has dropped to minus 19 percentage points, down from minus 1 in the previous federal election. Bandt’s net likeability rating has dropped to minus 15 percentage points, with only independent senator Lidia Thorpe (minus 40 percentage
Gold is a nice snapshot of everything that is going wrong with commodities today. The DXY steamroller is loose. Real yields too. Overbought, oh dear. This is not over. We have not seen a macro regime so hostile to gold and commodities since 2015, when the Chinese economy was slowing and the US economy was